Learn about the essential numerical skills required for accounting and bookkeeping. This free course, Introduction to bookkeeping and accounting, explains the fundamental rules of double-entry bookkeeping and how they are used to produce the balance sheet and the profit and loss account.
Overview
Syllabus
- Introduction
- Learning outcomes
- 1 Essential numerical skills required for bookkeeping and accounting
- 1 Essential numerical skills required for bookkeeping and accounting
- 1.1 Use of BODMAS and brackets
- 1.2 Use of calculator memory
- 1.3 Rounding
- 1.4 Fractions
- 1.5 Ratios
- 1.6 Percentages
- 1.7 Negative numbers and the use of brackets
- 1.8 The test of reasonableness
- 1.9 Table of equivalencies
- 1.10 Manipulation of equations and formulae
- 2 Double entry and the balance sheet
- 2 Double entry and the balance sheet
- 2.1 Accounting records and financial statements
- 2.2 Accounting records and the business entity concept
- 2.3 Definitions of assets, capital and liabilities
- 2.3.1 What are assets, capital and liabilities?
- 2.4 A simplified UK balance sheet format
- 2.5 T-accounts, debits and credits
- 2.6 Balancing off accounts and preparing a trial balance
- 2.7 Summary
- 3 Double entry and the profit and loss account
- 3 Double entry and the profit and loss account
- 3.1 Making a profit and generating cash
- 3.2 The effect of profit on the accounting equation
- 3.3 The profit and loss account
- 3.4 Income and expense accounts
- 3.5 Accounting for closing stock
- 3.6 The accounting equation and the double-entry rules for income and expenses
- 3.7 Post trial balance nominal ledger accounts
- 3.8 Summary
- Conclusion
- Next steps
- Acknowledgements
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Reviews
4.5 rating, based on 4 Class Central reviews
4.2 rating at OpenLearn based on 214 ratings
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Zeeshan RiazThis beginner-friendly course unlocks the secrets of bookkeeping and accounting. Brush up on math skills, then delve into the magic of the accounting equation and double-entry bookkeeping. Learn to record transactions with confidence, and discover how these translate into financial statements that reveal a company's financial well-being. Great for aspiring entrepreneurs or anyone who wants to understand business finances. While solo practice lacks feedback, this course equips you for further accounting adventures! -
I understand everthing i needed about Accounting and Bookkeeping, double entry, balance. Now i know about profit and loss account
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great to work with easy to keep up with and nice to be able to work on my own time frame. great course to have on my side.
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It was eye opening ,it revived my rusted accounting knowledge.Its a good course if you want to understand the basics of bookkeeping.
